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DAX futures analysis 15/03/2017


DAX futures (March contract is FDXH7 and EXPIRES 17th March, continuation contract is FDXc1)

 

The bulls are hanging on but the big four month uptrend is coming under pressure by the recent consolidation.

Ultimately, the market is waiting for the next big catalyst, but the bullish trend being intact suggest the breakout will still be to the upside.

Equity market catalysts have tended to come from Trump, but the raft of central bank decisions over the next 24 hours could also have a say in direction (a “dovish hike” from the Fed could be a bullish driver).

The market is in a tight range above the key near term breakout support at 11,895 with momentum indicators increasingly benign.

The hourly chart shows a little pop to the upside in the past hour but this is nothing yet to confirm a breakout.

The sequence of higher lows around the 4 month uptrend is encouraging and the hourly chart shows the trend breaches have been very brief and not backed.

  • Initial resistance at 12,030 is in sight again, with 12,058 and then 12,099 which is key for a directional breakout.
  • The support is being bolstered above 11,895 with the recent lows at 11.912 and now 11,927; today’s low is 11,983.

 


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Research Risk Warning

At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.